Tds

TDS 1230 views 8 replies

Whether Interest from Fixed Depsit and FD with Banks are liable to TDS at maturity ? If Yes, then what is the limit upto which it is not taxable ?

Replies (8)

The Maximum limit is 10,000......and yes it is liable under 194A

Interest on FD's taxable under other sources and also TDS is applicable on it u/s 194 A ( TDS on Interest other than securities)

TDS is deductible if interest exceeds Rs.10000, whether at the time of maturity or at the time of credit into the FD account...

you can submit to the bank Form 15g to get exemption if applicable to you.

hello,

i'm unable to upload ITR 1 due to non availablility of MICR code, pl suggest

 

Originally posted by : Devendra

TDS is deductible if interest exceeds Rs.10000, whether at the time of maturity or at the time of credit into the FD account...

 

yes agree

The limit as stated above is Rs.10000 and the bank starts deducting interest on its own once the interest amount exceeds Rs.10000 @ 10% u/s !94 A.

u can seek exemption also if u r eligible.. the bank will itself deduct tds if the interest accrues to the extent of the ceiling prescribed u/s 194A..


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